Fusemachines secures $1 million in FDI from Business Oxygen

Published On: January 14, 2022 01:55 PM NPT By: Republica  | @RepublicaNepal

New York, Jan 14: Fusemachines, an AI talent and education platform and service provider, has announced $1 million USD in foreign direct investment (FDI) from Business Oxygen Private Limited (BO2), a Nepal-based private equity fund bringing foreign investments to help local companies grow on Wednesday.

According to a statement issued by the company, Fusemachines will deploy the funds to substantially grow its Nepal team, with the addition of at least 200 new engineers, as well as to further advance AI education and upskilling initiatives in the country.

“Since we launched our AI Shikshya in Nepal initiative in 2018, we have continually strived to make an impact around AI reskilling and upskilling for both the technology and non-technology audiences in Nepal,” the statement quotes Sameer Maskey, CEO of Fusemachines, as saying. “With this recent round of funding, we hope to further bolster our ongoing efforts, while significantly adding new, credible talent to our employee base.”

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